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A rebound in banks helped lift European stocks from their lowest levels since 2013, trimming a second weekly decline.

Commerzbank AG jumped 18 percent, the most since 2009, after saying it returned to profit. That eased concerns that the region’s lenders will fail to find a way to remain profitable in a low-rate environment, which sent them to their biggest plunge since August 2011 on Thursday. Deutsche Bank AG climbed 12 percent after saying it will buy back about $ 5.4 billion of bonds. Energy producers and miners also surged with a rise in commodities.

The Stoxx Europe 600 Index rose 2.9 percent at 4:38 p.m. in London, also boosted by data showing that the region’s recovery kept its momentum. Germany led the euro area’s growth to 0.3 percent in the fourth quarter, matching economists’ forecasts. With Friday’s rally, the benchmark equity gauge pared its weekly drop to 4.1 percent as the volume of shares changing hands was about a fifth greater than the 30-day average.

European equities have been among the most hurt during the rout that erased about $ 8.6 trillion from stocks worldwide this year alone. The Stoxx 600 closed on Thursday 27 percent below its April record, taking its valuation to 13.5 times estimated earnings from more than 17 at its peak. Among 93 global equity gauges tracked by Bloomberg, five of the 10 worst performing were from Europe, with Germany’s DAX Index down 19 percent in 2016 and Italy’s FTSE MIB Index falling 26 percent. A gauge of stock volatility for the region has jumped 19 percent this week and reached its highest level since August.

A rebound in banks lifted European stocks from their lowest level since 2013, trimming a second weekly decline.

Commerzbank AG jumped 14 percent, the most since 2013, after saying it returned to profit, easing concerns that lenders will fail to find a way to remain profitable in a low-rate environment. The region’s banks plunged the most since August 2011 on Thursday.

The Stoxx Europe 600 Index rose 1.5 percent at 8:10 a.m. in London, with almost 550 of its companies rising. While banks led the rebound, energy producers and miners also surged with a rise in commodities. The benchmark equity gauge is paring its weekly drop to 5.4 percent.

European equities have been among the most hurt during the rout that erased about $ 8.6 trillion from stocks worldwide this year alone. The Stoxx 600 closed on Thursday 27 percent below its April record, taking its valuation to 13.5 times estimated earnings from more than 17 at its peak. Among 93 global equity gauges tracked by Bloomberg, five of the 10 worst performing were from Europe, with Germany’s DAX Index down 19 percent in 2016 and Italy’s FTSE MIB Index falling 26 percent.

With a 29 percent plunge this year through Thursday, Stoxx 600 banks have suffered the most amid growing concerns over the impact of low rates, bad loans at Italian lenders and Deutsche Bank AG’s ability to repay debt obligations. Credit Suisse Group AG joined the German lender and counterparts in Greece and Italy in trading at record lows. The group rebounded 2.6 percent on Friday.